Key Points
- Dropbox director Lisa Campbell sold 4,598 shares for approximately $159,918 under a pre-arranged Rule 10b5-1 trading plan, reducing her position by 19.1% to 19,471 shares.
- Dropbox recently exceeded quarterly expectations, reporting $0.75 in EPS and $631.5 million in revenue, while revenue increased 0.9% year over year.
- Analyst sentiment remains cautious, with an average “Reduce” rating and a $30.75 price target; institutional investors own approximately 94.84% of the stock.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) Director Lisa Campbell sold 4,598 shares of the company's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $34.78, for a total value of $159,918.44. Following the completion of the transaction, the director directly owned 19,471 shares of the company's stock, valued at $677,201.38. The trade was a 19.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Dropbox Trading Up 2.3%
Shares of DBX stock opened at $34.59 on Thursday. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $36.37. The business's 50 day moving average is $32.56 and its two-hundred day moving average is $27.98. The company has a market capitalization of $7.81 billion, a P/E ratio of 19.22, a P/E/G ratio of 4.98 and a beta of 0.65.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. The business had revenue of $631.50 million during the quarter, compared to analysts' expectations of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The business's revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. On average, research analysts predict that Dropbox, Inc. will post 1.94 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. William Blair raised shares of Dropbox from an "underperform" rating to a "market perform" rating in a report on Friday, August 7th. Zacks Research downgraded shares of Dropbox from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of Dropbox in a research report on Thursday, September 3rd. Citigroup boosted their target price on shares of Dropbox from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Finally, Bank of America restated an "underperform" rating on shares of Dropbox in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $30.75.
Get Our Latest Stock Analysis on Dropbox
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Dropbox by 8.3% in the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company's stock valued at $160,000 after purchasing an additional 440 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Dropbox by 1.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company's stock valued at $730,000 after buying an additional 466 shares during the last quarter. Merit Financial Group LLC raised its position in shares of Dropbox by 4.4% in the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company's stock valued at $344,000 after buying an additional 480 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after buying an additional 558 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Dropbox by 0.4% in the third quarter. Captrust Financial Advisors now owns 133,608 shares of the company's stock worth $4,036,000 after buying an additional 563 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
About Dropbox
(
Get Free Report)
Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.
At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.
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